PASHA Bank has been assigned 'BB-/B' credit ratings by Standard & Poor's

In September PASHA Bank has been assigned 'BB-' long-term and 'B' short-term counterparty credit ratings with stable outlook by Standard & Poor's - International Rating Services Organisation. This is the highest rating assigned to Azerbaijani commercial Bank with 100% local capital and second highest for a private bank in Azerbaijan.

PASHA Bank has an adequate business position, strong capital and earnings, moderate risk position, below average funding, and adequate liquidity.

The long-term rating on the bank reflects the bank's high systemic importance in the country and Standard and Poor's assessment of the Azerbaijan government as supportive.

The stable outlook reflects Standard & Poor's expectation that PASHA Bank will expand its franchise and loan book quickly in the next two years, at least by 30% per year, while maintaining strong capitalization and adequate liquidity.